Banks Seek Lower Credit Score Requirements, Targeting Over 50 Million Subprime Borrowers - zerohedge.com
Excerpt from this article:
"And the timing Couldn't be any better: U.S. consumer debt is higher than ever."
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Amazing! It's as though 2008 (or 1929!) never happened. Mark Levin should have included "Bankers" when he said:
"You should view these politicians with the deepest contempt you can possibly imagine. What they are doing to this country, what they are doing to our finances - there is not a criminal in any federal prison, state prison, city or county jail with respect to financial crimes of any sort who collectively could have done the kind of damage that Barack Obama and Harry Reid and Nancy Pelosi and yes, willing, timid, gutless Republicans have done to this country! To your future, to your children and your grandchildren. What they are doing is with malice and with forethought." (Source)
Here are 2 quotes from the great book, The Big Short (See Below):
Excerpt from this article:
"And the timing Couldn't be any better: U.S. consumer debt is higher than ever."
-----------------------------------------------------------------
Amazing! It's as though 2008 (or 1929!) never happened. Mark Levin should have included "Bankers" when he said:
"You should view these politicians with the deepest contempt you can possibly imagine. What they are doing to this country, what they are doing to our finances - there is not a criminal in any federal prison, state prison, city or county jail with respect to financial crimes of any sort who collectively could have done the kind of damage that Barack Obama and Harry Reid and Nancy Pelosi and yes, willing, timid, gutless Republicans have done to this country! To your future, to your children and your grandchildren. What they are doing is with malice and with forethought." (Source)
Here are 2 quotes from the great book, The Big Short (See Below):
“Maybe the best definition of investing is gambling with the odds in your favor. The people on the short side of the subprime mortgage market had gambled with the odds in their favor. The people on the other side – the entire financial system, essentially – had gambled with the odds against them. What’s strange and complicated about it is that pretty much all the important people on both sides left the table rich.”
“The world’s most highly paid financiers had been totally discredited; without government intervention, every single one of them would have lost his job. And yet those same financiers were using the government to enrich themselves. I can understand why Goldman Sachs would want to be included in the conversation about what to do about Wall Street. What I can’t understand is why anyone would listen to them”
